Deals
Edmond de Rothschild Investment Partners’ BioDiscovery 4, its fourth fund dedicated to life sciences, has made its second investment through the series B financing round of Complix, which it co-leads with GIMV.
Complix, formed in 2008, was founded in Hasselt, Belgium. Edmond de Rothschild Investment Partners led alongside GIMV the Series B round financing of EUR12m which will be invested in developing a first set of therapeutic Alphabodies to treat cancer and autoimmune indications and to further develop and validate the company’s unique Alphabody platform.
Complix is developing Alphabodies, a transformative biotherapeutic platform with the ability to modulate
Segulah III’s portfolio company PMC Group has entered into an agreement to divest its Norwegian activities, Servi (PMC Group Norway AS1), to Ferd Capital.
The transaction is subject to competition clearance.
Servi’s business activities are focused on the Norwegian offshore industry, with a range of blue chip customers among leading equipment manufacturers, yards and fleet owners.
Recently, a sales office was opened in Houston, Texas. With Ferd Capital as a new owner, Servi will be able to fully exploit growth opportunities in the offshore industry globally.
In 2012, Servi had a turnover of NOK777m and an
Nordic Capital Fund VII is to sell EG A/S, a Scandinavian IT software and service provider, to Axcel IV.
During Nordic Capital’s five year ownership period, EG has developed ahead of the initial strategic plan, driven by a clear focus on offering market leading solutions for selected industry verticals, organisational transformation, operational effectiveness, geographical expansion and IT service market consolidation. In addition, since 2009, EG has completed 14 add-on acquisitions in Denmark, Norway and Sweden.
“We are very pleased with and proud of the strong development and performance of EG during Nordic Capital’s ownership. The ambition for Nordic
Avista Capital Partners has completed its acquisition of Telular Corporation.
As previously announced, Joe Beatty has stepped down as chief executive officer of Telular in connection with the closing.
Avista Capital Partners industry executive Allen Yurko will act as interim CEO while the board of directors conducts a search for a permanent successor and will serve as chairman thereafter.
Yurko says: "I am very pleased to be joining Telular at this exciting time. In partnership with Avista, Telular will continue to pursue its plan for growth in the machine-to-machine communications sector. I look forward to working with
Lyceum Capital-backed Adapt, the independent IT managed infrastructure provider, has acquired Leeds-based cloud hosting provider Sleek.
The deal sees Adapt accelerate its organic growth by gaining more than 20 enterprise customers, a team of 20 skilled technical staff and a strategic footprint in the North of England.
The acquisition of Sleek represents the second add-on by Adapt since Lyceum backed the business in a GBP30m transaction in September 2011, following the GBP13m acquisition of eLinia, a provider of cloud computing and infrastructure outsourcing, in April 2012.
Existing Sleek customers, who already take advantage of the provider’s managed
Genstar Capital, a middle market private equity firm that focuses on investments in the life sciences, healthcare, financial services, software and industrial technology industries, is to sell PRA to funds managed by Kohlberg Kravis Roberts (KKR).
Genstar acquired PRA in a take-private transaction in 2007 for USD797m. Since then, working with newly appointed chief executive Colin Shannon and a new senior management team, Genstar invested in PRA and completed key strategic add-on acquisitions, strengthened the company’s European operations, enhanced its technology, and developed its infrastructure to support continued expansion in emerging markets.
Shannon says: "The Genstar team has extensive experience building businesses in the
Emerging markets private equity firm Actis has invested USD102m in Edita Food Industries, a snack food business in Egypt.
Edita is the largest independent snack food business in North Africa with a suite of iconic brands including Twinkies, Hohos, Molto, Todo and Bake Rolz. It sells around 2.5 billion pieces of croissants, cakes and wafers a year, with an average price point of 10 US cents.
For Actis this investment builds on its three prior successes in the North African food sector: Mo’men, El-Rashidi El-Mizan and Poulina.
The Egyptian snack food market is growing rapidly. Despite the
Osprey Capital, the venture capital firm, has made a 35 per cent investment in Mansard Capital. Mansard Capital is primarily a specialist investment manager delivering discretionary management services, multi asset solutions and alternative investment funds to private clients and institutions.
Leon Diamond, director, Mansard Capital, says: “Mansard Capital has a highly experienced and expert management team that is committed to delivering innovative solutions to client issues. We are focused on providing strong returns while preserving capital. This new investment from Osprey Capital will allow us to further grow the business and work together to enhance our already strong offering and proposition.”
HNA Group has agreed to acquire GE Capital’s TIP Trailer Services, a provider of transport equipment leasing, rental and service solutions, subject to customary closing conditions, including regulatory approvals.
HNA Group is advised by Bravia Capital of Hong Kong with whom they have historically partnered on other transactions.
Following the completion of the acquisition TIP will operate a network of 48 branches throughout 16 European countries, with over 100 rental locations, more than 50 workshops and 100 mobile service vans. TIP has a transport equipment fleet in excess of 45,000 units.
Adam Tan, vice-chairman and president of
Piper, an investor in consumer brands, has taken a significant minority stake in Turtle Bay, a Caribbean restaurant group.
Turtle Bay is the brainchild of Aj Jaya-Wickrema, who co-founded Las Iguanas, a previous Piper investment. Piper helped Las Iguanas grow from a regional operator of four restaurants into Britain’s market leading Latin American chain, delivering a 6x multiple on its investment on exit in 2007.
Turtle Bay, which promises “to transport you to the Caribbean without a plane ticket”, offers authentic food and drink inspired by the islands’ vibrant culture. The first site opened in Milton Keynes in 2011, followed by restaurants in Bristol, Nottingham and Southampton. The business plans to open
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